Steve Wynn, the founder and former chairman and CEO of Wynn Resorts, is rumored to be selling his Gulfstream G650ER private jet. In August 2015, while still leading the gaming company that bears his name, Wynn upgraded from a Gulfstream G650 to a Gulfstream G650ER. Currently, The Jet Business lists several Gulfstream G650ERs for sale, though inquiries must be made to ascertain their selling prices. Estimates place the price of a used G650ER at nearly $42 million, and maintaining such jets is costly.
“Depending on numerous factors, the average price for a pre-owned Gulfstream G650ER is $41,950,000.00. A $20,975,000.00 loan over 120 months, including $87,395.83 per month in interest, equates to a $1,051,764.41 per-period payment. Based on 450 annual owner-operated hours and $6.00-per-gallon fuel cost, the Gulfstream G650ER has total variable costs of $3,242,700.00, total fixed costs of $1,249,151.00, and an annual budget of $4,491,851.00. This breaks down to $9,981.89 per hour,” according to Aircraft Cost Calculator.
If Wynn does proceed with selling his jet, an enthusiastic audience of potential buyers is likely, as only a small percentage of the total G650 global fleet is typically available for sale, driving strong demand and supporting high residual values.
In January, Forbes estimated Wynn’s net worth to be $3.4 billion, suggesting that he is not in urgent need of money. Nonetheless, he has been actively selling some high-priced assets recently. If his Gulfstream G650ER is indeed for sale, it would join his notable listings, which include a $90 million penthouse in New York City overlooking Central Park, a $76 million lakefront estate in Lake Tahoe, and a $75 million mansion in Beverly Hills. Wynn also sold his Las Vegas mansion for $17.5 million in April 2023.
At 82 years old, and no longer active in the gaming business, Wynn’s decision to reduce the number of his residences and sell his private jet could be practical. His primary residence is currently in Palm Beach, Florida.
The Gulfstream G650 is more than just a jet; it is a status symbol. Its name was shortened and served as the inspiration for the 2014 hit single “Like a G6” by The Far East Movement. The list of G650 owners reads like a who’s who of America’s wealthy and famous, including Jeff Bezos, Larry Ellison, Elon Musk, and Kim Kardashian. Wynn also owns the Aquarius, a superyacht estimated at $200 million.
